Insufficient subscription of the increase (art. 191 LGS)
Even if the capital increase is not fully subscribed within the stated period, subscribers and the company remain bound by the obligations undertaken unless the terms of issue provide otherwise.
What article 191
Article 191 governs a capital increase that is not fully subscribed.
Even where the capital increase is not fully subscribed within the prescribed period, the subscribers and the company shall not be released from the obligations undertaken, unless the terms of issue provide otherwise.
Source: Law 19,550, art. 191 — InfoLEG (updated official text)
Commentary
The rule gives stability to the increase: incomplete subscription does not invalidate the portion actually subscribed. Each party remains bound by its commitment unless the issue was expressly conditioned on full subscription.
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